Guideline Value for Punithavathi Nagar Main Road

Punithavathi Nagar Main Road guideline value

The current guideline value of Punithavathi Nagar Main Road is Rs 1,600 per sq.ft, effective from 1 July 2024. This road is located in Gowrivakkam village under the Selaiyur SRO, classified as Residential Special Type - II.

How the guideline value of Punithavathi Nagar Main Road has changed

The guideline value for this street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was later revised to Rs 1,005 per sq.ft in 2017. This marked a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, reflecting a 49% rise. The most recent revision in 2024 has further increased the guideline value to Rs 1,600 per sq.ft, which is a 7% increase from the previous year.

Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, the guideline value has seen a modest increase of 7% from 2012 to 2024.

Guideline values in Gowrivakkam

In Gowrivakkam, there are 130 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 840 to Rs 3,750 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, indicating that the guideline value of Punithavathi Nagar Main Road is below this median.

• Punithavathi Nagar 4th Street: Rs 1,600 per sq.ft (2024)
• Punithavathi Nagar 4th Cross Street: Rs 1,600 per sq.ft (2024)
• Punithavathi Nagar 3rd Street: Rs 1,600 per sq.ft (2024)
• Punithavathi Nagar 3rd Cross Street: Rs 1,600 per sq.ft (2024)
• Punithavathi Nagar 2nd Street: Rs 1,600 per sq.ft (2024)
• Punithavathi Nagar 2nd Cross street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Punithavathi Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Punithavathi Nagar Main Road?

The Sub Registrar Office covering Punithavathi Nagar Main Road is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Gowrivakkam

The guideline value is a critical factor during property transactions in Gowrivakkam. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of property registration. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value helps in assessing the official value of the property, which may influence the overall transaction process. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Punithavathi Nagar Main Road?

The current guideline value of Punithavathi Nagar Main Road is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification for Punithavathi Nagar Main Road?

Punithavathi Nagar Main Road is classified as Residential Special Type - II.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Punithavathi Nagar Main Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, a 1,000 sq.ft plot at Rs 1,600 per sq.ft incurs a total guideline value of Rs 16,00,000, resulting in a stamp duty of Rs 1,12,000.